Insider Discussion – Think Homeownership Is Expensive? Renting Might Be Worse
Insider Discussion – Think Homeownership Is Expensive? Renting Might Be Worse
Think homeownership is expensive? Renting might cost you more!
Rents rise every year, but mortgage payments can stay fixed. Want a breakdown of what’s smarter in your city? Let’s discuss.
I hope this information was helpful! If you are considering buying or selling a home, I would love to talk to you. I am a seasoned agent with over 24 years of experience in the local real estate market. I would love to be able to get you the financial result you desire from your current home to get you in to that Dream Home! Don’t hesitate to call me anytime at 260-579-1516 or you can email me at mike@mikearchbold.com.
Think Homeownership Is Expensive? Renting Might Cost You More!
If you’ve been holding off on buying a home because it “just seems too expensive,” you’re not alone. With home prices rising over the past few years and interest rates fluctuating, many would-be buyers have opted to rent—believing it’s the safer, cheaper bet. But here’s the truth: renting might actually be costing you more in the long run.
Let’s break it down.
✅ Rent Keeps Going Up
Rent is never truly “fixed.” Landlords review lease terms annually and adjust prices based on demand, inflation, taxes, and property values. Over the past decade, rent prices have climbed steadily in most markets—and in many cities, monthly rent now exceeds the cost of a comparable mortgage. If you’re renting today at $1,500/month, there’s a good chance you’ll be paying $1,650 or more next year, with no equity to show for it.
✅ Mortgage Payments Can Stay Fixed for 15–30 Years
With a fixed-rate mortgage, your principal and interest payments stay the same for the life of the loan. That means even if taxes or insurance adjust slightly, your monthly housing cost is still more stable and predictable than rent. Think of it as a hedge against inflation—your housing costs don’t keep going up just because the world around you does.
✅ You Build Equity with Every Payment
Every time you make a mortgage payment, you’re paying down the balance of your loan and building equity—that’s money you get back when you sell or refinance. Renters? They’re helping their landlord build wealth, not their own. Even if you only own a home for five years, the amount you pay down (plus any appreciation in value) can put you in a much stronger financial position for the future.
✅ There Are Tax Benefits
Homeowners can often deduct mortgage interest and property taxes (talk to your tax advisor for specifics). These deductions can offset the cost of ownership and make homeownership even more financially beneficial when compared to renting.
✅ You Have Control Over Your Space
Owning a home means freedom: to paint, remodel, plant a garden, or install that dream kitchen—without asking a landlord. It’s an investment in your lifestyle, not just your finances.
So, Should You Still Rent?
That depends on your circumstances. If you plan to move in the next year or have credit challenges, renting may still make sense in the short term. But if you’re planning to stay in the same area for the next 3–5 years, buying may be the smarter move—even in today’s market.
Want to see how the numbers compare in your city? Let’s run a side-by-side analysis of rent vs. buy in your specific situation. You might be surprised which one wins.
Michael J Archbold
Associate Broker, REALTOR, ePro
RE/MAX Results
8101 Coldwater Rd
Fort Wayne, IN 46825
c. 260-579-1516
e. Mike@MikeArchbold.com
w. www.MikeArchbold.com
Oh, by the way… if you know of someone who would appreciate the level of service I provide, please call me with their name and business number. I’ll be happy to follow up and take great care of them.
Why Does RE/MAX Results Stand Out Among the Competition?
Simply put: Relationships. We pride ourselves not only in our professional service but more importantly in the personal touch we bring to our business. Has an agent/lawyer/contractor/vendor ever treated you like you were just another paycheck? The reason our clients come back time and again and refer all their friends and family to us is because they know we are part of the family.
Genuinely caring about the people we serve enables us to do things other agencies can’t. Rest assured, we will ALWAYS have your best interest at heart and work vigorously to get you the best deal possible on your home or business. The relationships we build with our clients enable us to work 100% by referral.
The reason we are able to give top notch service to our clients is because our clients refer us a constant stream of quality family and friends to assist in their real estate needs. While other agents are out making cold calls and chasing “potential” leads, we are freed up by our referral base to service our clients like no other broker can. We are never too busy for your referrals!
Want to experience the difference for yourself? Call or text me today at 260-579-1516.
“Professional Service with a Personal Touch“
We’re Here To Help
Are you or someone you know considering a home purchase? Don’t hesitate to call or text me, Michael Archbold, at 260-579-1516 and I will connect you with the best mortgage professionals in the business who can get you your score, discuss ways to improve it if necessary, and put you on the path to home ownership. Click here to read more about our Buyer Services. Click here to browse listings NOW! Looking to sell your home? Call today to set up an appointment to begin developing your customized marketing plan. Click here to read more about our Seller Services.
Hoosier Home Listings by RE/MAX Results is a full service real estate Web site serving Northeast Indiana. We assist residential and commercial clients in locating, buying, and selling real property in the State of Indiana including but not limited to the counties of Allen, Huntington, Wells, Adams, Whitley, Wabash, Kosciusko, Noble, Dekalb, Lagrange, Steuben and cities including Fort Wayne, Decatur, Bluffton, Huntington, Warsaw, Columbia City, Butler, and Angola. RE/MAX Results is an Equal Housing Opportunity company.
Hoosier Home Listings – Insider Discussion – Think Homeownership Is Expensive? Renting Might Be Worse …
… brought to you by Michael Archbold, Hoosier Home Listings, and RE/MAX Results.
The consummate professional, Michael Archbold (Associate Broker, REALTOR, ePro) brings a diversified background to the world of real estate. Born and raised in Fort Wayne, Mike graduated Wayne High School in 1992. He received bachelors degrees in Accounting in 1997 from Indiana University and Information Technology in 2005 from Indiana Wesleyan University. Mike comes to Re/MAX with more than 20 years of experience in sales and accounting. He began his career in real estate in 2000 as an investor.
